XRP declined below the $2.00 threshold and now faces resistance near $2.020, with technical indicators suggesting further downside risk. The token dropped to $1.9525 before attempting a partial recovery that stalled below key resistance levels.
XRP attempted a recovery above $2.120 but failed to sustain upward momentum, mirroring weakness in Bitcoin and Ethereum.
The price fell through the $2.00 support level, reaching a low of $1.9525.
The token subsequently recovered above the 50% Fibonacci retracement level of its decline from $2.047 to $1.952. However, selling pressure intensified near $2.00 and $2.020, preventing further gains.
A bearish trend line has formed with resistance at $2.020 on the hourly chart of the XRP/USD pair, according to data from Kraken. The price now trades below both the $2.00 mark and the 100-hourly Simple Moving Average.
If XRP breaks above $2.020, the next resistance levels sit at $2.050 and $2.080. A clear move above $2.120 could push the price toward $2.150, with additional resistance at $2.20 and $2.250.
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If XRP fails to clear the $2.020 resistance zone, it could trigger a fresh decline toward initial support at $1.9650. The next major support level sits at $1.950.
A close below $1.950 could accelerate losses toward $1.920 and $1.880. Further downside below $1.880 would target the $1.820 support zone, according to technical analysis.
The hourly MACD indicator is gaining momentum in the bearish zone. The Relative Strength Index has fallen below 50, signaling weakening buying pressure.
